Thailand: Intouch plans to infuse over $6m into seven startups this year

Image from Intouch facebook

Intouch Holdings, the parent company of Thailand’s largest mobile phone operator Advanced Info Service (AIS), has set aside a sum of 200 million baht ($6.33 million) to invest in seven startups this year, according to the company’s investor relations vice president Tomyantee Kongpoolsilp.

The company is already conducting due diligence on four startups that might receive up to 125 million baht.

“All four deals are set to close within this year. In addition to 200 million baht, we have around 1.8 billion baht in cash. Should we find more attractive deals, we are ready to invest,” she told local media.

Intouch is focused on investing in telecom-media-technology (TMT), artificial intelligence, internet of things and blockchain data analytics.

Intouch has injected the capital into startups via its corporate venture capital arm InVent, which has already invested around 540 million baht in 13 startups since it was set up in 2012.

The startups it has invested included digital lifestyle platform Ookbee, restaurant review platform Wongnai, US-based advertising technology firm Social Nation and enterprise location-based application developer Ecartstudios.

She cited that the value of its investment in its portfolio companies has surged over 100 per cent to 928 million baht.

She added Intouch was also scouting acquisition opportunities in the TMT space. Previously, it had invested in High Shopping, a 51:49 joint venture between its subsidiary Intouch Media and Hyundai Home Shopping.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.